Case study: Bringing greater control to regulatory responses
Creating a single source of truth for regulatory information
Allens partnered with a major bank to establish a centralised regulatory data repository, helping strengthen governance, reduce duplication and support faster, more consistent responses to regulatory requests across multiple matters.
The challenge
Large financial institutions operate in an environment of ongoing regulatory engagement. Matters often span several years, involve multiple advisers and generate significant volumes of sensitive information. Over time, information can become dispersed across teams, systems and external providers, making it more difficult to maintain consistency, manage data securely and draw on knowledge from previous matters.
How Allens helped
Allens worked with the bank to design and implement a centralised repository for information the client provided to regulators. The solution created a secure and consistent source of record, reducing reliance on multiple external platforms and strengthening oversight of regulatory information.
The repository also enabled the bank to review prior decisions and reuse work product where appropriate, reducing duplicated efforts, lowering costs and supporting greater consistency across matters over time.
Impact
The new approach gives the bank:
- a single, secure record of everything produced to regulators, regardless of which law firm is running the matter
- lower data security risk, with less sensitive material held by external advisers
- less duplication and lower cost, because firms no longer re-review the same documents and work from one matter can be reused on the next, helping the bank take a consistent position across related investigations
- clearer visibility over regulatory activity, including regulator focus areas and document volumes; and
- access to Allens' broader data, analytics and AI capabilities as the bank's needs change.
Why it matters
Know where it is
Everything you've given regulators sits in one secure place, so you're not chasing it across teams and advisers.
Explain past decisions
When a regulator asks why you took a position, you can see what was decided and on what basis.
Build on earlier work
Reusing work from previous matters keeps your responses consistent over the years.
Regulatory matters can run for years and change hands between advisers. A central record keeps your history with the regulator intact.
Read more client outcomes in practice
Turning a million records into clear answers
Allens combined legal expertise, data analytics and AI-enabled review tools to help a major financial services organisation identify, connect and assess information across multiple regulatory investigations.
Scaling regulatory response across 14 million documents
Allens helped a major financial services client establish a centralised operating model for regulatory response, combining legal expertise, review services and digital capability to create a more efficient and scalable approach to managing regulatory engagement.